Emaar The Economic City Signs Contract with LUCID Limited Liability

Emaar The Economic City Announces Development Lease Contract Sign Off with LUCID Limited Liability Company with an amount of SR. 113.5 Million.

Lucid Company will lease an industrial plot in King Abdullah Economic City Industrial Valley with a purpose to construct and operate automotive manufacturing and assembly facility together with all ancillary services.

There will be a financial impact for the contract period: 25 Years (2022 to 2047)

The chairman of the board Mr. Assim Alsuhaibani and the board member Mr. Majed Alsorour have an indirect interest in this contract, as they are the representatives of The Public Investment Fund, an investor in Lucid Company.